Latest Zimbabwe News Summaries

Govt Determined To Give Value To RTGS Dollar

Finance and Economic Development Minister, Mthuli Ncube said Government is determined to give value to the RTGS dollar launched in February.

In an interview with United States’ National Public Radio (NPR) during his recent trip to Washington DC, Ncube said Government is determined to win the people’s confidence. Said Ncube:

There is reason not to be confident, and I agree with them. The reason was the macroeconomic management – the capacity, the determination, the focus – wasn’t there. That has changed since four months ago since we came in. We are running a budget surplus. We are containing the growth of money supply. We’re determined to give value to the currency that we’ve launched and want people to believe in us. We’re determined to make this right.

Related

Mthuli NcubeRTGS

Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube

Real-time Gross Settlement (RTGS) is a fund transfer system where the transfer of money takes place from one bank to any other bank on a "real time" and on a gross basis. Settlement in "real time" means a payment transaction is not subjected to any... Read More About RTGS